A huge sale of Elizabeth Taylor's designer clothing and jewelry, known as the "Crown Jewels of Hollywood," will be split in two, with nearly 1,000 items selling only online, Christie's auctioneers said Monday.

Liz Claiborne Inc's new streamlined model helped the company post an adjusted quarterly profit, as the owner of the Juicy Couture, kate spade and Lucky Brands revamps itself to cut debt and focus on its core brands.